BEFORE THE BELL: North American markets poised for more gains today; Traders prepare for BoC interest rate tomorrow
Global markets may continue to fly high today staying just out of reach of trade war worries for now.
As big business earnings reports roll in this week, investors are choosing to focus on these economic boosts over the growing trade war between China and the US. Of these reports, the health care and tech sectors are expected to see the biggest gains.
Meanwhile, big bank stocks in Canada are getting a boost ahead of tomorrow’s announcement on the interest rate from the Bank of Canada. A majority of analysts believe Governor Stephen Poloz will choose to hike the rate by a quarter of a per cent, after keeping it status quo in May.
Oil prices are also gaining as US crude pushes ahead to 74.17 a barrel.
The Loonie isn’t seeing any benefit from these boosts however as it slides to 76.07 cents US.